BitMEX co-founder Arthur Hayes has recently increased his investment in a decentralized finance (DeFi) altcoin project by approximately $500,000, as per on-chain data. The Ethereum block explorer Etherscan reveals that Hayes has acquired over 98,560 Pendle tokens, which enables users to tokenize and sell future yields. This transaction was facilitated through Wintermute, a prominent digital assets trading firm. Hayes, who also serves as an advisor for the Pendle project, currently holds more than 1,555,697 PENDLE tokens, with a total value exceeding $7.7 million. Earlier, during the broader correction in the crypto market on May 2nd, Hayes had expressed his intention to increase his investment in Pendle. He stated that he would allocate more to Pendle for long-term positions, alongside investing in Solana and doggie coins for momentum trading positions. Hayes believes that Bitcoin may experience sideways trading until August, with a potential rally above $60,000 and subsequent price action ranging between $60,000 and $70,000. At the time of writing, Pendle is trading at $4.96, showing a decline of over 3% in the last 24 hours.